Sigma Inpartnership and Neptune Developments have jointly formed Neptune Inpartnership to develop commercial sites across Liverpool. The first is a £120m mixed-use development on the derelict Stonebridge Cross residential estate.
A hybrid planning application is being prepared and the development is expected to be completed over the next three years. The scheme is expected to comprise a new secondary school, a 70,000 square foot foodstore, other shops, a health centre, a budget hotel and approximately 450 or 500 new homes. It will also include a new public park and the restoration of the River Alt.
Neptune Inpartnership also plans to be involved with the regeneration of the Lime Street and the Knowledge Quarter area of the city. The total development value of the project is estimated at £140m, with the work taking place over the next three to five years. The project will require the preparation of both a masterplan and delivery plan covering the area, which is bounded by Lime Street, Mount Pleasant, The Metropolitan Cathedral/St Andrews Gardens and Lord Nelson Street. A key objective of the work is to enhance the quality of the routes between Liverpool City Centre and its two Universities.
As part of the Liverpool Partnership, Sigma Inpartnership is also already working on a regeneration project at Norris Green Village, a 63 acre site five miles from Liverpool city centre. This involves a rolling programme of development for the creation of a further 800 new homes with a development value of around £120m.
Sigma chief executive Graham Barnet said: “The establishment of this joint venture company with Neptune Developments Ltd will help to accelerate the delivery of the regeneration opportunities we hold in our partnership with Liverpool City Council.”
Inpartnership was founded in 2001 as an investment-led regeneration specialist that works as a bridge between public and private sector organisations. It was acquired by Sigma Capital Group in August 2011.